Confluence Investment Management LLC Invests $2.89 Million in Perficient, Inc. (NASDAQ:PRFT)

Confluence Investment Management LLC bought a new position in Perficient, Inc. (NASDAQ:PRFT) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 51,267 shares of the digital transformation consultancy’s stock, valued at approximately $2,886,000. Confluence Investment Management LLC owned approximately 0.15% of Perficient at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in PRFT. Nomura Holdings Inc. boosted its position in Perficient by 4.5% during the fourth quarter. Nomura Holdings Inc. now owns 113,240 shares of the digital transformation consultancy’s stock worth $7,453,000 after purchasing an additional 4,891 shares during the period. Wellington Management Group LLP grew its holdings in shares of Perficient by 26.2% in the fourth quarter. Wellington Management Group LLP now owns 1,945,667 shares of the digital transformation consultancy’s stock worth $128,064,000 after purchasing an additional 404,154 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its holdings in Perficient by 31.1% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 28,949 shares of the digital transformation consultancy’s stock valued at $1,905,000 after acquiring an additional 6,867 shares in the last quarter. Covenant Partners LLC boosted its holdings in Perficient by 8.2% in the fourth quarter. Covenant Partners LLC now owns 3,742 shares of the digital transformation consultancy’s stock valued at $246,000 after acquiring an additional 283 shares in the last quarter. Finally, Spouting Rock Asset Management LLC lifted its position in Perficient by 5.8% during the fourth quarter. Spouting Rock Asset Management LLC now owns 17,966 shares of the digital transformation consultancy’s stock valued at $1,183,000 after buying an additional 978 shares during the period. Institutional investors own 95.00% of the company’s stock.

Analysts Set New Price Targets

PRFT has been the subject of a number of recent analyst reports. Barrington Research reissued a “market perform” rating on shares of Perficient in a research report on Tuesday, May 7th. Guggenheim began coverage on Perficient in a research note on Tuesday, March 19th. They set a “neutral” rating and a $65.00 price objective for the company. Maxim Group restated a “hold” rating and issued a $76.00 price target on shares of Perficient in a research note on Tuesday, May 7th. Scotiabank upped their price objective on Perficient from $50.00 to $76.00 and gave the stock a “sector perform” rating in a report on Monday, May 6th. Finally, Needham & Company LLC restated a “hold” rating on shares of Perficient in a report on Monday, May 6th. One research analyst has rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat.com, Perficient currently has a consensus rating of “Hold” and an average target price of $70.43.

Perficient Price Performance

Shares of NASDAQ:PRFT traded down $0.01 during trading on Tuesday, reaching $74.40. The stock had a trading volume of 223,693 shares, compared to its average volume of 488,008. Perficient, Inc. has a 1-year low of $42.51 and a 1-year high of $96.93. The stock has a market cap of $2.62 billion, a PE ratio of 31.80, a PEG ratio of 1.87 and a beta of 1.63. The company has a debt-to-equity ratio of 0.72, a quick ratio of 4.18 and a current ratio of 4.18. The business has a fifty day moving average price of $63.59 and a 200-day moving average price of $64.38.

Perficient (NASDAQ:PRFT) last posted its quarterly earnings data on Sunday, May 5th. The digital transformation consultancy reported $0.77 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.77. Perficient had a return on equity of 19.50% and a net margin of 9.40%. The firm had revenue of $215.30 million for the quarter, compared to the consensus estimate of $224.99 million. During the same quarter in the previous year, the business earned $0.89 EPS. The company’s quarterly revenue was down 7.0% compared to the same quarter last year. On average, equities analysts forecast that Perficient, Inc. will post 3.31 earnings per share for the current fiscal year.

Perficient Company Profile

Perficient, Inc provides digital consultancy services and solutions in the United States and internationally. It offers strategy and transformation solutions in digital strategy, technology strategy, business velocity and growth, and organizational change management; and data and intelligence solutions in the areas of analytics, artificial intelligence and machine learning, big data, business intelligence, and custom product portfolios.